The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets available on the market in recent years, each claims that digital assets will be safe and secure. Its Ellipal wallet is a new competitor in the field, and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets is becoming increasingly crucial. The Ellipal wallet is a tool that keeps the private key to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new player in the market. They raised $55K in an Indiegogo campaign to help fund its development. The company’s website as well as reviews online claim they are 100% secure, however, it’s important to note that the hardware wallets from rival companies such as TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. For instance, even if you connect your TREZOR on a compromised system that has been infected with viruses your private keys will remain secure and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates via QR codes through a camera on the rear end. This makes it a very secure choice as it removes the possibility of hackers gaining gain access to private information by the network. It’s important to note that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it’s not tested in battle yet. This is something that potential buyers need to keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been on the market for a longer time and have a established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is working to provide the support of more coins in the near future.
In conclusion, the Ellipal device is an fresh player in the market for hardware wallets that claims to be 100% secure due to its complete inaccessibility to any computer or network. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins, and its price tag at $149 is comparable with other wallets. While the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the history and security measures of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly for use like other hardware wallets. Additionally, it’s an extremely new product that’s available.